Habitat for Humanity of Dane County Homeownership Program

Habitat for Humanity of Dane County Homeownership Program is down payment assistance for homebuyers in Madison, Wisconsin, administered by Habitat for Humanity of Dane County. Affordable homeownership program selling Habitat-built/renovated homes to qualified low-income Dane County families via a 25-30 year, low- to no-interest mortgage with no profit charged. Families typically fall between 30% and 60% of Dane County median household income and complete 275-425 hours of sweat equity. Habitat-built home sold at no profit with a 25-30 year, 0%/low-interest mortgage; payment kept affordable. Funding comes from Habitat for Humanity of Dane County (nonprofit).

Habitat for Humanity of Dane County Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of Dane County. The assistance is recorded in first position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity of Dane County Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Established credit with a minimum score of 620 and three years positive, verifiable housing history. A homebuyer education course is required, through Habitat homebuyer education (part of program). Residency requirement: Must reside in Dane County for 12 months prior to applying. Citizenship or immigration status: U.S. Citizenship or Permanent Resident Alien status required. Requires 275-425 hours sweat equity and criminal background clearance. Habitat affordable-mortgage program (assistance_type 'other').

Habitat for Humanity of Dane County Homeownership Program limits household income to 60% of the area median income, which varies by county and household size. Partner families typically fall between 30% and 60% of Dane County median household income. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Habitat for Humanity of Dane County Homeownership Program can be used for single_family. New construction is eligible.

Habitat for Humanity of Dane County Homeownership Program serves homebuyers purchasing in Madison, Wisconsin. Targeted neighborhoods: Dane County.

Applications for Habitat for Humanity of Dane County Homeownership Program go through Habitat for Humanity of Dane County, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.